There is no way to spin it, the current price of Steem is concerning.
Since its high in July the price of Steem has been in steady decline and now it seems we are reaching all time lows daily. What is perhaps more concerning is that the price decline is accompanied by a mass exodus from Steemit - average users are simply not sticking around.
This does not inspire confidence and likely means new money from outside the Steemit ecosystem will not come until the platform begins to turn around. If outside investment is limited maybe it is up to us (the hardcore Steemit user base) to bring Steem back.
So when are we buying?
I have created a poll to try to gauge when active Steemit users might begin buying Steem. Please take a moment to participate:
POLL: At what price (usd) will you start buying Steem?
I personally am not at the point of buying. I bought once before and I have watched that investment wither away to nothing. Not inspiring!
Below 10 cents (usd) I will begin considering once again.
156 votes = 6 poll participants :(
Made comments in Ozchartarts daily charting posts a few weeks back that my next target low was .00016. I bought some at .00036 anyway as I planned to stagger purchases. I may wait till we near .00010 though given the price action.
I set a buy a ton if it falls to .00016.
But now someone put a 3btc roice wall at .00017
I'm buying.
I bought $2000 worth about 6 weeks ago, which has lost about 75%
If it gets below 5c, I'll move another 2 btc across.
Hey Brian, not sure if you've seen this yet, but here is one thing that should give hope:
Historical MVEST to USD Price Chart - Steem Power Has Not Lost Value Over The Long Term!
I saw that post. Very good work! Just realized I never upvoted it :(
A glass half-empty perspective is that Steem Power is not worth much if the platform can't make it through the first year or two. Either price or active users needs to break up strongly for me to begin feeling optimistic. I think it will be price before active users.
Yeah, we are probably 3-6 months, or even a year away from big user growth IMO. We still need to wait for a few more features and fixes before we try to send a new wave of mainstream users to the site (if you asked me). I'm still bullish on SP in the long term, I just don't know where/when we can expect it to turn around. The fact we're approaching the pre spike floor as far as SP vest value and total market cap though makes me think it could be soon if we can somehow address the perception problem.
Ill probably buy some soon, I've only been here a month, and I see it as a good long term investment. This is my first time ever into Crypto-currencies, so its all new still. I only transferred 1 Steem to BTC, just to see how it works, and to establish a BTC wallet. I'm just so busy with work and life, its actually hard for me to justify buying BTC to transfer to Steem (which I will immediately power up). I also wont be buying thousands of USD worth of BTC/Steem, so moving the price wont be accomplished by me. I'm here for the content, people, technology and culture this is breeding. I'm in long term.
The only way to know the bottom has been reached is when it starts to go back up again. So we will probably buy when it's been stable / climbing for a few days. Meanwhile, all our posts are 100% SP.
Or when it reaches...
;)
I reinvest everything I make here.
I am. I too bought a while back and have seen it dwindle. When it's powered up, you can't even cut your losses. But maybe that's the point, and it was a strategic move on my part, knowing I was locked in.
I've been buying since it got below about 40 cents, two orders, one right about where it is now. I have another standing order just below here and will put in another one below it if we go that far. All of it gets powered up, though if it goes low enough I might grab a large speculative portion to sell on the next bounce. There's just not enough historical data at this point to do TA.
I'm probably buying today or tomorrow. Maybe it's a bad investment, maybe it isn't, but I've decided to give it a shot.
great post congratulations
i also at what point we'll start seeing big buys.. its sure a good price for it!
I think I am going to buy at 10 cents also.
It's cheap enough for me. I bought yesterday. Probably will go down before going up again but I do not try to pick the perfect time. I focus on things more predictable like: it will very probably increase A LOT in the next months or years. With luck, sooner than that.
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Welcome to the world of crypto currencies by Dan Larimer... Sucks the lemmings in with an artificial FOMO inducing price spike, then dumps on all the lemmings while touting that Steem/BTS/BTS2.0/Brownies is a great investment. Anyone remember when him and Ned were getting interviewed by a bunch of crypto dbags and most predicted steem to explode? The least optimistic guy thought that maybe it might retrace 25% or so.... That was literally the top and the lemmings have been dumped on by the preminers ever since.
He's done it before and I'm sure steem won't be his last pump and dump. Really its almost a yearly exercise for him. He preys on people that think they are the smartest people in the room... the people who think they are getting in early on some life changing, earth shattering tech. People who think, "wow, once the masses see this tech they will love it and I will be rich and I will be able to tell everyone I discovered this tech first! I'm a visionary just like Elon Musk!".
Remember, you are investing in a platform that pays people to like stuff on the internet. Just think about that once. If something seems to good to be true it probably is. The money isn't created out of thin air. It's sucked from investors pockets under the disguise of safety known as steem power.